Elon Musk has ordered company-wide layoffs on Twitter, according to the New York Times. The SpaceX and Tesla executive reportedly urged managers on Saturday to start compiling lists of employees to be cut. Twitter did not immediately respond to Engadget’s request for comment.
The Times couldn’t determine how many Twitter employees Musk plans to lay off — though some teams will be hit harder than others. Before completing his $44 billion acquisition of the company, Musk reportedly told investors he plans to lay off up to 75 percent of Twitter’s 7,500-strong workforce. In a meeting with employees, Musk is said to have told employees he would not drastically reduce the company’s workforce.
The forthcoming layoffs are expected to take place before November 1st. The timing could give Musk an opportunity to avoid paying out stock grants to departing employees. According to The Times, such payouts “usually make up a significant portion” of an employee’s salary. While Musk shared some details about what moderation might look like on the platform under his oversight, he has been less forthcoming about his plans for the company’s workforce. On Saturday he spent most of Saturday tweet about food.
Musk has already cut part of Twitter’s executive team, firing CEO Parag Agrawal and chief financial officer Ned Segal on the day he took over the company. According to The Guardian, these moves are expected to cost Musk at least $120 million in “golden parachute” payouts.
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